Car industry BMW nominates former CFO Peter as new Supervisory Board Chairman
After ten years, BMW is getting a new Supervisory Board Chairman. The incumbent Norbert Reithofer will not be standing for re-election at the 2025 Annual General Meeting after two terms in office. Former CFO Nicolas Peter is to take over his position.
10.12.2024, 18:08
SDA
The Supervisory Board will propose him to the Annual General Meeting and has announced its intention to make him Chairman if elected, as the car manufacturer announced.
Like his predecessor, Peter also has extensive experience inside BMW: he was Chief Financial Officer from 2017 to May 2023 and also worked for the Group before that.
Peter complies quite closely with the two-year cooling-off period stipulated in the German Corporate Governance Code: According to BMW, he no longer held any function in the company after May 11, 2023. The Annual General Meeting is scheduled for May 14, 2025.
